Benzinga | Jul 15, 2013 07:25AM ET
U.S. equity futures gained in early pre-market trade despite weak GDP data from China. China reported second quarter GDP grew 1.7 percent in the quarter, worse than the expected 1.8 percent growth rate. However, the annualized figure posted at 7.5 percent growth, in line with forecasts.
Top News
In other news around the markets:
Asian shares were higher overnight on the back of the China data despite Japanese markets being closed for a holiday. Chinese shares were higher as the Shanghai Composite Index rose 0.98 percent and the CSI 300 Index gained 1.4 percent while the Hang Seng Index in Hong Kong rose 0.12 percent. Also, the Korean Kospi gained 0.28 percent and Australian shares gained 0.15 percent.
European Markets
European shares were higher overnight on little news. The Spanish Ibex Index rose 0.12 percent and the Italian FTSE MIB Index gained 0.73 percent. Meanwhile, the German DAX rose 0.5 percent and the French CAC 40 Index gained 0.71 percent while U.K. shares added 0.68 percent.
Commodities
Commodities were mixed overnight as oil prices dropped. WTI Crude futures fell 0.24 percent to $105.70 per barrel and Brent Crude futures declined 0.02 percent to $108.79 per barrel. Copper futures fell 0.63 percent to $313.50. Gold was higher and silver futures were flat.
Currencies
Currency markets were on the move as dollar strength was seen nearly across the board. The EUR/USD was lower at 1.3033 and the dollar gained against the yen to 99.79. Overall, the Dollar Index rose 0.25 percent on strength against the yen, the Swiss franc, the pound, the euro, and the Canadian dollar.
Earnings Reported Yesterday
Key companies that reported earnings Friday include:
Stocks moving in the pre-market included:
Notable companies expected to report earnings Monday include:
On the economics calendar Monday, the monthly retail sales report and the Empire State Manufacturing Index are due out as well as the business inventories report. Also, the Treasury is set to hold the weekly auction of 3- and 6-month bills. Overnight, the RBA minutes and the German ZEW Economic Sentiment Index are expected to be released.
BY Matthew Kanterman
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